Hair is one of the very first things that we tend to notice about others, and some people are willing to go to great lengths to ensure their hair is absolutely perfect. The right hairstyle can make a huge difference in how we feel about ourselves and give us the ability to go through life with confidence, knowing we're looking our very best. In a similar sense, the right Ontario hair salon insurance provides hair stylists and salon owners with the confidence to deliver their services, knowing they are protected against serious financial losses in the event that something goes wrong.
There is no such thing as a one-size-fits-all solution when it comes to insurance. Each individual chooses to run their business and provide services in their own unique way, which means they need unique hair salon insurance coverage that addresses the common risks they are most likely to encounter in their professional life. The licensed brokers at Morison Insurance have the experience and expertise to track down the best options for your hair salon insurance and give you clear recommendations so you can make an informed decision about insurance protection for your hair stylist operations.
Insurance is absolutely necessary for any type of business, and those working in the beauty industry are exposed to special risk factors because their work involves being in close contact with clients and altering their appearances. Ontario Hair Salon Insurance provides coverage for these unique circumstances. No matter how careful you are and how skilled you are at your job, there's always the possibility of an accident or unforeseen event that could cause injury or property damage, resulting in a lawsuit that leaves you liable for settlements to cover medical costs, replacement for damaged property, legal fees and more. Needless to say, those expenses can be incredibly high and create a massive financial impact that takes years or even decades to recover from.
There are also property risks involved that require property coverage on Ontario hair salon insurance, because hair stylists often use specialized equipment or custom-designed workspaces that they need access to in order to provide their services. If your tools are stolen, your equipment is damaged in a flood, or your commercial property is severely damaged in a fire, it's not just a matter of repairing or replacing what was damaged or lost. You will likely also have to cancel appointments and stop taking clients until the situation is resolved, and the additional cost of that interruption to your business can be astronomical.
With the right Ontario hair salon insurance that offers comprehensive coverage tailor-made for your insurance needs, you get the peace of mind that comes with knowing your insurance provider will step up to help cover costs such as legal defence fees, settlements, medical bills, property damage replacement, and more, up to the limits listed on your policy. Everyone encounters liability or property damage issues at some point in their career, and paying out of pocket for those unexpected expenses is enough to bankrupt most people. That's why hair salon insurance is a wise investment that is an absolute must-have for hair stylists and salon owners.
If you are working in the hairdresser industry in any capacity, it's important to make sure you are fully covered with the right salon business insurance policy so you are protected from potential risks that could lead to financial loss. That includes:
Hair stylist liability insurance is an extremely important type of business insurance coverage that is designed to protect you in the event that you are the subject of a liability claim. Because there's such a wide range of possible liability situations, there are also a number of different types of liability coverage you may need. Here are a few liability coverage options that are especially needed for an Ontario hair salon insurance policy.
Commercial general liability insurance is a basic part of most business insurance policies, and naturally, that includes Ontario hair salon insurance. This coverage exists to offer you liability protection if you are sued for allegedly causing third-party bodily injury, third-party property damage or personal harm.
An example of this type of liability claim in action is if you told a client to have a seat in the waiting area and the chair collapsed under them. If they were injured, they could choose to sue you to recover medical expenses and the cost of their recovery period. Or, imagine you accidentally let a couple drops of bleach fall on a client's expensive designer handbag. The client could bring a lawsuit against you for the price of a new replacement bag—which could potentially cost tens of thousands of dollars.
In the types of situations outlined above, your commercial general liability insurance company would step in to cover costs related to the lawsuit, such as legal defence fees when you're forced to defend yourself in court. It also covers settlement costs up to your policy limit should you be sued successfully, so the plaintiff can get the compensation they are entitled to by the court and you can avoid paying out of your own budget for medical bills, replacement costs and more.
The fact that hair stylists, barbers, colourists and other types of hair professionals work directly with a part of their clients' bodies makes professional liability possibly the most necessary part of a comprehensive Ontario hair salon insurance policy. Hairdresser liability insurance, which is also called errors and omissions insurance (E&O) or salon malpractice insurance, protects you and your business from claims alleging they have been subjected to financial losses resulting from professional negligence, bad advice, misconduct, failure to deliver a promised service, advertising injury or breach of contract.
For example, imagine you decided to try a new hair product on a client and left it on for far too long, resulting in a harsh chemical burn to their scalp. They could sue you for professional negligence because you did not use the product correctly and win a settlement for not only their medical expenses but also additional compensation for pain and suffering. Or, maybe you advised a client to purchase and use a product that caused their hair to fall out over the course of a few months. That client could sue you for bad advice that caused them emotional distress, or even a loss of income if they rely on their appearance to do their job. In that event, the professional liability coverage on your Ontario hair salon insurance would provide funds to cover liability-related costs until the policy limit was reached.
Lawsuits can be eye-wateringly expensive, but sometimes business owners encounter situations that have nothing to do with liability—but can still leave them in desperate need of financial assistance to get back to work and keep growing their business success. Here are some of the types of property coverage that are crucial for full financial protection on your Ontario hair salon insurance.
Whether you operate a large salon out of a prime commercial location or are just doing hair out of a single chair at your home property, you absolutely need the right type of commercial property coverage for your Ontario hair salon insurance. From fires and extreme weather to theft and vandalism, there's a lot that could happen to render your expensive equipment and tools unusable, or prevent you from accessing your physical commercial space. You can't offer all your services without your tools, equipment and salon, so damage or loss can quickly result in financial ruin if you don't happen to have tens of thousands of dollars available to buy brand-new equipment or deal with problems like costly water damage mitigation. With the right commercial property insurance component on your Ontario hair salon insurance, your insurance carrier will provide funds to cover repair or replacement for your covered tools and equipment, along with compensation to deal with physical damage to your commercial property.
If your commercial location or its contents are damaged or lost, your commercial property insurance provides the funds to deal with it—but repair, replacement and damage mitigation don't happen overnight. While you're waiting, you'll have no choice but to stop taking clients and that can spell serious trouble for your bottom line. Business interruption insurance is the part of Ontario hair salon insurance that will provide financial assistance to help you recoup your loss of income and take care of other expenses such as employee wages so you're able to get back on your feet as soon as possible and do what you do best. It's worth noting that business interruption coverage does not typically apply to closures that are government-mandated for infectious disease control.
The answer really depends on how the hair salon insurance policy at your place of employment is written. Generally speaking, salon employees are usually covered for stuff like commercial general liability and professional liability, but not always. Your exact career designation matters as well—if you're hired as a contractor rather than a salon employee, you may not be covered at all. Either way, it's very important to sit down and talk with the salon owner about their specific Ontario hair salon insurance policy so you can be completely sure you have the coverage you need. Remember that the owner's insurance will only cover you for work you do on their premises or on their behalf. If you do any work on the side on your own time, their insurance coverage will not apply to any liability situations that arise from that work.
It's difficult to say how much any given individual would need to pay for Ontario hair salon insurance because there are so many variables that can affect the cost of your premiums. When you apply for hair salon insurance, the insurance provider assesses your information to determine your level of insurance risk exposure and uses that evaluation to determine the quote they give you. Some of the factors they look at include:
If you need the right Ontario hair salon insurance, call 1-800-463-8074 or fill out our online quote form to speak with the team of licensed brokers at Morison Insurance. We take our commitment to our customers very seriously, and will work tirelessly to find the ideal coverage options for your hair salon insurance policy. As a family-owned business in Ontario, we are very proud to make our customers feel like one of the family, which is why we always deliver the best standards of service so you can rest assured that you have the right financial protection in place.
This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.